INGS1001 Lecture Notes - Lecture 6: Early Action, Emissions Trading, Stern Review
26 Jul 2018
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Document Summary
The shift to low carbon global economy will take place against the background of an abundant supply of fossil fuels. Under bau, energy users are likely to switch towards more carbon-intensive coal and oil shales, increasing rates of emissions growth. The costs for stabilisation at 500- 550ppm of co2e were centered on 1% of gdp by 2050, with a range of -2% to +5% of gdp. This range reflects a number of factors, including the pace of technology innovation and the efficiency with which policy is applied across the globe: the faster the innovation and the greater the efficiency, the lower the cost. The current level of greenhouse gases in the atmosphere is equivalent to around. Even if this annual flow of emissions did not increase beyond today"s rate, the stock of. Greenhouse gasses in the atmosphere would reach double pre-industrial levels by 2050 and would continue to grow thereafter .
